SHFE Ni price on 3-day decrease, tracks LME
Oct 29, 2018 17:45
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Prices of the most-traded nickel contract on the Shanghai Futures Exchange, that for January delivery, lost ground for a third consecutive day on Monday, falling by another Yuan 2,560/tonne ($368/t) or 2.5% compared with the previous trading day last Friday to close at Yuan 98,210/t as of 3:00 pm, or a seven-month low since late March.
“The notable decline must have something to do with the dropping LME nickel price,”a Shanghai-based nickel analyst commented on Monday. In London last Friday, the cash settlement price for nickel on London Metal Exchange reached the lowest point since last December, declining for five straight trading days – or by